Bankruptcy

Timelines
Vijay Mallya, Nirav Modi, Anil Ambani may lose these assets

12 Feb 2020

Vijay Mallya, Nirav Modi, Anil Ambani may lose these assets

In a bid to recover debt from Indian tycoon owners of bankrupt companies, creditors are now looking at their personal possessions.

World's oldest travel firm Thomas Cook goes bankrupt, travelers stranded

23 Sep 2019

World's oldest travel firm Thomas Cook goes bankrupt, travelers stranded

In a concerning turn of events, Thomas Cook, the world's oldest travel company, collapsed on Monday after talks to revive it failed.

Videocon: PM Modi, SC, Brazil responsible for Rs. 39,000cr debt

12 Jun 2018

Videocon: PM Modi, SC, Brazil responsible for Rs. 39,000cr debt

Videocon Industries Ltd., with its massive Rs 39,000cr debt, is facing bankruptcy proceedings after the National Company Law Tribunal (NCLT) admitted a plea from lenders last week, led by the State Bank of India.

Banks recover dues worth Rs. 83,000cr from 2,100 companies

23 May 2018

Banks recover dues worth Rs. 83,000cr from 2,100 companies

Thousands of companies have started paying back their dues to banks and other lenders for fear of action being initiated against them under the Insolvency and Bankruptcy Code (IBC).

SC asks Jaypee to deposit Rs. 200cr by May 10

21 Mar 2018

SC asks Jaypee to deposit Rs. 200cr by May 10

The SC has given Jaypee Associates, parent of debt-ridden Jaypee Infratech, till May 10 to deposit Rs. 200cr.

Troubled telco Aircel files for bankruptcy in NCLT Mumbai

28 Feb 2018

Troubled telco Aircel files for bankruptcy in NCLT Mumbai

Telecom operator Aircel said it has filed for bankruptcy as it has been facing "troubled times" in "highly financially stressed" industry. The filing was made in National Company Law Tribunal Mumbai.

PNB scam: Nirav Modi's Firestar Diamond files for bankruptcy

27 Feb 2018

PNB scam: Nirav Modi's Firestar Diamond files for bankruptcy

Even as billionaire Nirav Modi battles allegations of committing India's largest bank fraud of Rs. 11,400cr, his international jewelry brand, Firestar Diamond Inc, has filed for bankruptcy in the US.

Debt-ridden Aircel to file for bankruptcy, exit market soon

19 Feb 2018

Debt-ridden Aircel to file for bankruptcy, exit market soon

It looks like Aircel is in deep water as it's soon going to file for bankruptcy at National Company Law Tribunal (NCLT), according to ET.

Mahesh Bhupathi, Lara Dutta take Gitanjali Gems to insolvency

21 Dec 2017

Mahesh Bhupathi, Lara Dutta take Gitanjali Gems to insolvency

Mahesh Bhupathi and Lara Dutta, brand ambassadors of Gitanjali Gems, have taken the company to insolvency as operational creditors.

President approves amendment to Insolvency and Bankruptcy Code

23 Nov 2017

President approves amendment to Insolvency and Bankruptcy Code

A day after the Cabinet approved amendments to the Insolvency and Bankruptcy Code (IBC), President Ram Nath Kovind has given assent for the law to go into force.

Toys 'R' Us balks under debt, files bankruptcy

19 Sep 2017

Toys 'R' Us balks under debt, files bankruptcy

Retail chains are already reeling from Amazon's aggressive pricing.

SBI tops list of wilful default, PNB next

21 Aug 2017

SBI tops list of wilful default, PNB next

India's largest lender SBI is shouldering 27% of the total amount that wilful defaulters owe to the public-sector banks.

Individuals can declare bankruptcy if unable to repay loans

24 Jul 2017

Individuals can declare bankruptcy if unable to repay loans

Soon, individuals will be able to declare bankruptcy and allowed to repay loans in a planned manner, instead of being forced to pay banks at once.

RBI to banks: Resolve 55 NPA cases in six months

24 Jun 2017

RBI to banks: Resolve 55 NPA cases in six months

After pegging down 12 accounts that had racked up 25% or roughly around Rs. 2 lakh crore worth non-performing assets (NPA) in the Indian banking sector, the Reserve Bank of India (RBI) has now given banks a six month time period to resolve 55 cases of bad debt or hand them over for resolution under Insolvency and Bankruptcy Code.

Puerto Rico bankruptcy: From "rich coast" to whopping debt

04 May 2017

Puerto Rico bankruptcy: From "rich coast" to whopping debt

Puerto Rico filed for bankruptcy at a US Federal Court - making it the biggest debt ever in the US bonds market.

Is Bankruptcy Code the much-needed fix for bad loans?

14 Apr 2017

Is Bankruptcy Code the much-needed fix for bad loans?

India's insolvency problem with private and public sectors' NPAs is running a tab of Rs. 6 lakh crore.